Multiple Choice
Bond price: Briar Corp is issuing a 10-year bond with a coupon rate of 7 percent. The interest rate for similar bonds is currently 9 percent. Assuming annual payments, what is the present value of the bond? (Round to the nearest dollar.)
A) $872
B) $1,066
C) $990
D) $945
Correct Answer:
Verified
Correct Answer:
Verified
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